North America Is Dominating Digital Diabetes Management Industry

The global digital diabetes management industry revenue for 2023 has been estimated at USD 17.8 billion, which is expected to observe a compound annual growth rate of 13.7% during 2024–2030, to reach USD 43.4 billion by 2030.

In the past few years, the medical device industry has observed substantial technical improvements in the field of diabetes care, such as closed-loop systems, focused sensor-based CGM technology, management devices, and wearable and smartphone-based health trackers.

Technically progressive approaches have advanced diabetes management and made it possible to attain tight control while permitting a more flexible everyday plan and diet for patients, kids, and their families. Insulin pumps, prefilled syringes, and glucose meters with test strips are some instances of digital diabetes management items that are competitive with their analog counterparts.

The ongoing advancements in artificial intelligence (AI) have led to the expansion and evolution of its role in diagnosing and treating diabetes. Utilizing machine learning algorithms to bolster predictive models assessing the risk of diabetes and its complications, AI enables continuous and remote monitoring of a patient's symptoms and biomarkers. This approach facilitates automatic retinal screening for detecting diabetes mellitus and provides clinical diagnosis support.

In 2023, the CGM systems grip the largest revenue share, of more than 40%, due to their advanced features, like connectivity with smart gadgets, which work as display devices. Moreover, such systems can be installed to inform patients in a precise way when certain glucose thresholds are achieved.

By 2030, wearable devices are anticipated to dominate the global digital diabetes management market, holding a substantial share of approximately 70%, based on their type. This is attributed to regulatory approvals received by Continuous Glucose Monitoring (CGM) systems and ongoing technological advancements in smart insulin patches.

Moreover, a significant factor contributing to the widespread adoption of these systems worldwide is their ability to provide not only blood glucose readings but also additional data, alerting patients to deviations beyond preset levels. As a result, the convenience offered by these systems is driving their increased adoption globally.

The North American region, has attained the largest income share of the industry, of approximately 55%, in 2023. This can be credited to the growing cases of diabetes, technical improvements in solutions that aid in handling this endocrine condition using digital technologies, increasing usage of smartphones, and high acceptance of cloud-based solutions by healthcare specialists for upholding the health data of patients. Additionally, the surge in the concentration of governments and healthcare workers on enhancing the standard of treatments drives the market.

The digital diabetes management industry is propelled by the rising incidence of diabetes and advancements in the healthcare IT space.

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Lab Supplies Market is Led by the Equipment Category

The total value of the lab supplies market was USD 40.3 billion in 2023, which will touch USD 66.4 billion by 2030, powering at a rate of 7.6% by the end of this decade. This is credited to the growing R&D activities because of the increasing expenditure on this aspect by life sciences firms, their growing numbers, and extensive incidence of communicable diseases.

Based on offering, the equipment category leads the industry with a share, of 70%, in 2023. This is credited to the fact that pharma and biotech companies, R&D centers, labs, and further scientific establishments need quality instruments to achieve numerous experiments, tests, and studies. 

Furthermore, the results fashioned throughout such activities are extremely reliant on the sturdiness, excellence, and strength of the instruments. Apparatus that aids in improving the competence of work and offering precise results is, consequently, required.

North America lab supplies market is the leader of the industry with a considerable revenue share. This is because many biopharma, pharma, and biotech giants on the basis of the region are aggressively engaged in R&D actions. 

Moreover, more than a few research agencies in the region are improving their infra with the funds offered by government organizations. Furthermore, the exceptional quality of the data offered by the key players in the region and their outstanding track records will attract funds for research in the years to come.

Europe will grow considerably in the future, because of numerous research institutions in the region. Furthermore, there was an increase in the count of research grants across Europe. 

For example, in January 2023, the ERC granted EUR 657 million to scientists in the region to conduct studies on various topics, from engineering to life sciences. Moreover, the operation of strict guidelines with regards to the safety of medications makes quality assurance activities essential, thus resulting in the expansion of the regional industry.

It is because of the R&D activities all over the world, the demand for lab supplies solution will continue to grow in the years to come as well.

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Surgical Procedures Market is Driven by Surging Cancer Incidence

The surgical procedures market was 110.0 million procedures in 2023, and it will reach 137.5 million procedures, advancing at a 3.3% compound annual growth rate, by 2030.

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The growth of this industry is mainly powered by the increase in the incidence of cancer. Furthermore, the growing pace of technological developments in surgical procedures, such as the arrival of robotic surgical procedures, is a key aspect boosting this industry.

In 2023, the obstetric & gynecologic (OB-GYN) category, on the basis of type, led the industry, with approximately 30% share. This is ascribed to the rising occurrence of gynecological illnesses like endometriosis, ovarian cysts, polycystic ovary syndrome (PCOS), uterine & ovarian cancer, pelvic inflammatory ailment, chronic pelvic pain, and adenomyosis.

The ophthalmic category, on the other hand, will advance at the fastest rate, of approximately 3.7%, in the years to come. This will be mainly because of the increasing occurrence of different ophthalmic ailments, such as glaucoma, diabetic retinopathy, and cataracts.

Furthermore, the industry in the category is advancing because of the mounting aging population and the rising occurrence of eye conditions owing to diminishing eyesight and longer screen time.

In 2023, the hospitals category, based on provider, was the largest contributor to the surgical procedures market, with approximately 45% share. Moreover, this category will remain the largest throughout this decade.

The growth of this category is because of the enormous number of surgeries conducted in these healthcare settings across the globe, coupled with the mounting prevalence of various chronic illnesses.

Whereas, the ambulatory surgery centers category will propel at the fastest compound annual growth rate, of 3.5%, in the coming years. This is because of the booming count of such centers, the treatment cost-efficiency offered at these facilities, and the rising acceptance of minimally invasive measures and cosmetic procedures.

North America was the largest contributor to the industry in 2023, with a 50% share. This is because of the existence of a well-developed healthcare infrastructure, shifting fondness toward outpatient surgeries, and a greater acceptance rate of technologically developed devices.

Moreover, the surging occurrence of ailments like gastrointestinal, orthopedic, and cardiac disorders in this continent also assists the industry expansion.

APAC is likely to advance at the fastest rate, of approximately 3.5%, in the years to come. This is because of the arrival of developed surgical technologies, the flourishing healthcare sector, and the advancing medical tourism industry in this region.

Additionally, the expansion is also assisted by the rising consciousness regarding chronic disorders, coupled with the increasing occurrence of neurological disorders and traumatic injuries.

It is because of the surge in the occurrence of cancer, the surgical procedures industry will continue to advance in the years to come.

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Healthcare Staffing Market is Led by Hospital Category

The healthcare staffing market is estimated to generate USD 40.1 billion in 2023, which will touch USD 64.2 billion, advancing at a 7.0% compound annual growth rate, by 2030.

The progression of this industry is mainly because of the high working flexibility as well as the surging occurrence of chronic ailments. Furthermore, the consciousness about the advantages of temporary employment, availability of opportunities, and incentives associated with the job has surged.

The travel nurse staffing category, based on service type, is leading the industry, with a 40% share. This can be because of the lack of skilled nurses as well as the necessity for their constant accessibility and cost-efficiency. Because of the rising healthcare expenditures during the pandemic of COVID-19, health centers were forced to reduce their employees.

The hospitals category, based on end user, is the largest contributor to the healthcare staffing market. This is because numerous hospitals are hiring skilled specialists in accordance with the rules implemented by governments to maintain an ideal nurse-to-patient ratio. Therefore, the employment of patient-centric rules is boosting the count of staff members in health centers.

APAC is likely to advance at the fastest rate, of 7.5%, during this decade. This is ascribed to the increasing need for workers to work for a specific period in this region.

Europe will also propel at a significant rate, because of the enormous lack of healthcare workers it has been facing for several years now.

With the surging incidence of chronic ailments and the high working flexibility, the healthcare staffing industry will continue to progress in the coming years.

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North America Is Dominating Ultrasound Probe Covers Industry

The total value of the global ultrasound probe covers market was USD 203.1 million in 2022, and it will rise at a growth rate of above 7.4%, reaching USD 358.9 million by 2030.

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The growth in everyday cases associated with urological and gynecological syndromes and infectious illnesses has augmented the utilization of ultrasound and the growth of progressive technology in ultrasonic imaging. However, there is a high possibility of contagion from transducers during ultrasonic imaging. After the COVID-19 epidemic, there is a high emphasis on the well-being of patients from infectious illnesses via ultrasound probes, which leads to the augmented use of protective covers.

In 2022, the disposable type category contributed the larger revenue share, of above USD 190 million. This can be credited to its cost-efficiency and the capability to lessen the danger of illness or infection spread among patients.

Throwaway or single-use medicinal equipment covers are usually suitable and simple to use, as they can be swiftly disposed of after every use. This fortifies them to be extremely chosen by healthcare workers who prioritize infection control and operational effectiveness. 

Moreover, their throwaway nature guarantees a progressive level of hygiene and safety from infection and decreases the load of cleaning and sterilization procedures.

On the basis of product type, the market is bifurcated into latex-free and latex probe covers. Between these two, the latex category holds a larger industry share and the category is also projected to advance at a significant pace in the future. This is mainly because latex protective covers are usually more inexpensive than other kinds and are effortlessly accessible primarily in emerging nations with imperfect healthcare amenities. In such countries, healthcare specialists are seeking a balance between price and patient well-being, and latex kind is a better choice for infection control.

The endocavity category is generating a larger revenue share. This is because of the growing demand for endo-cavity ultrasound procedures, mainly in the fields of gynecology, obstetrics, and age-related chronic illnesses. Furthermore, a medicinal probe cover is precisely made for utilization in endocavity procedures that include inserting the ultrasound probe into body cavities like the rectum and vagina. These covers are used to avoid contamination of the examination site from liquids or other materials that can possibly reason infections if they enter via open injuries during ultrasonic imaging.

North America is dominating the industry. This can be ascribed to the growing obtainability of medicinal repayments for ultrasound procedures, the increasing count of diagnostic centers and infirmaries, the non-invasive nature of ultrasound technology and its capability to make real-time photos, and the existence of key market players in the continent.

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Cellular Health Screening Industry IS Led by North America

The cellular health screening market will power at a rate of 9.7% by the end of this decade, to reach USD 5,512.8 million by 2030.

To learn more about this report: https://bit.ly/3soV7Yj

This has a lot to do with the growing use of cellular health screening in personalized medicine, detecting ailments early, supporting in preventive care, and identification of diverse health problems; the growing count of awareness campaigns; the increasing acceptance of telomere performance programs; and the growing prevalence of chronic ailments mainly cancer globally.

The single-test panel category held a major share of the industry. This is because of its labor efficiency, affordability, and increased possibility for automation. Amongst single-panel tests, the requirement for telomere single-panel tests is will grow at the highest rate by the end of this decade. This is due to the fact that these offer precise info, aid in measurement of the length of telomere, and help in the determination of the age of cell.

North America led the cellular health screening market, and this trend will continue by the end of this decade, with USD 2.5 billion. This is because of the growing government funding for preventive healthcare, the increasing acceptance of novel technologies, the mounting consciousness about personalized medicine, and the expanding incidence of infectious and chronic diseases. 

The U.S. is the leading the industry in North America, and it will grow at a rate of 10% by the end of this decade. This because of the robust healthcare infra and the existence of a numerous key players. 

Europe is growing at a considerable rate. This is because of the growing elderly population, the growing incidences of chronic ailments, and the surging acceptance of cutting-edge screening methods for effective treatment of various diseases.

Due to the increasing focus toward a healthy life expectancy, the demand for cellular health screening solution will continue to grow.

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U.S. Makes the Most Use of Multiparameter Patient Monitoring Systems

The total demand for the multiparameter patient monitoring systems market is about to touch USD 17,950.8 million by 2030, propelling at a rate of 7.9% in the years to come. This is because of the increasing prevalence of chronic disorders, increasing requirement for early diagnosis of the disease, and increasing number of surgical procedures taking place.

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There is a considerable increase in the count of people fallen prey to chronic conditions, for example diabetes, obesity, high BP, and asthma. This is attributed to the adoption of sedentary lifestyle by the people sedentary lifestyles, regular intake of high-calorie foods, shortage of physical activity, and heavy consumption of alcohol and tobacco. 

The portable category led the multiparameter patient monitoring systems market, with around 60% share in 2022. This is on account of the numerous advantages accessible by portable systems, chiefly, the ease of conveyance both outside and inside the medical locations, as a result of their lightweight nature.

North America is the leader of the pack, as far as revenue is concerned. This is because of the existence of a strong healthcare system, high expenditure on healthcare facilities, tech progressions in the sector, high incidence of diseases, increasing consumer consciousness with regards to effective management of disease, and increasing surgical procedure count in the region. 

The U.S. is a big contributor to the development of the market. This has a lot to do with the increasing acceptance of pioneering technologies in the country, innovative medical infra, and advantageous reimbursement strategies. The existence of main players is another factor powering the industry in the country itself.

Due to the increasing requirement for early diagnosis of the disease, the demand for multiparameter patient monitoring systems will continue to grow in the years to come.

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How is Expanding Patient Pool Fueling Embolotherapy Industry Growth?

The global embolotherapy industry is experiencing growth and is projected to reach 6,447.1 million by 2030, according to P&S Intelligence. This growth can be ascribed to the rising patient pool, mounting occurrence of chronic and lifestyle-related illnesses, growing healthcare investments, and advancing healthcare infrastructure.

To learn more about this report: https://bit.ly/43NzT3S

In recent years, embolic agents led the industry, on the basis of product. The growing utilization of embolic agents in numerous interventional radiology procedures is the major factor for this product category's supremacy in the industry.

Moreover, because of the improvements in such agents, including drug-eluting microspheres, standardized microspheres for bland embolization, and radioactive yttrium-90 (Y-90) microspheres, for curing primary or secondary liver illness, the category is projected to advance at a higher rate in the coming few years.

In recent years, North America led the embolotherapy market, and it is projected to grip the largest industry share in the future as well. The growing occurrence of signs that need embolization procedures, well-known healthcare infrastructure, and the growth of progressive embolic agents by the players functioning in the continent are some of the key factors for the development of the North American industry.

The extended exposure to four modifiable lifestyle behaviors, mainly physical inactivity, smoking, alcohol consumption, and unhealthy diet, commonly results in chronic illnesses, such as diabetes, stroke, metabolic syndrome, obesity, chronic obstructive pulmonary illness, and numerous kinds of cancer.

Chronic illnesses are a key healthcare load impacting high-income as well as low- and middle-income nations (LMICs). Hepatitis, cancer, and central nervous system syndromes are some of the chronic illnesses that need progressive treatment. Therefore, the surge in the occurrence of chronic and lifestyle-related illnesses is boosting the embolotherapy industry worldwide.

Hence, the growing patient pool, mounting occurrence of chronic and lifestyle-related illnesses, growing healthcare investments, and advancing healthcare infrastructure, such factors are propelling embolotherapy market.

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Magnetoencephalography Market was Dominated by Hospitals

The total revenue generated by the magnetoencephalography market was valued at USD 275 million in 2022, and it will power at a rate of 5.60% in the years to come to reach USD 426 million by 2030, as stated by a market research institution, P&S Intelligence.

To learn more about this report: https://bit.ly/3NWM0H2

The growth of the industry can be mainly credited to the increasing tech developments happening, the increasing prevalence of neurological ailments, the growing focus on the use of non-invasive procedures, and the growing elderly population.

These scanners show their efficiency in the epilepsy detection, dementia, brain tumors, sclerosis, pain perception, and many more neuro problems. Likewise, without misrepresentation, it is possible that neuromagnetic impulses can pass through the scalp and skull. 

North America dominated the magnetoencephalography market, and the trend will continue in the years to come, with USD 149 million in 2030. This is because of the high acceptance of novel and cutting-edge technologies and high income in the region. 

Furthermore, the next-gen sequencing technology delivers quicker and more precise results, as a result of which it is put to use in Canada and the U.S.

U.S. is the leader and it will grow with a rate of 5.7% in the years to come. This is credited to the robust healthcare infra, the existence of numerous key players, a surge in the product launch count, high expenditure on healthcare projects, and high investments in R&D activities in mental health field, in the nation.

Due to the increasing progressions in technologies all over the world, increasing cases of neurogenerative disorders, the demand for the magnetoencephalography processes will continue to grow in the years to come.

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